Connor Clark & Lunn Investment Management Ltd. Buys New Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Elanco Animal Health Incorporated (NYSE:ELAN) during the 4th quarter, Holdings Channel reports. The institutional investor bought 53,830 shares of the company’s stock, valued at approximately $652,000.

Several other large investors have also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB acquired a new position in Elanco Animal Health in the third quarter valued at $35,000. Jones Financial Companies Lllp boosted its stake in Elanco Animal Health by 95.6% in the fourth quarter. Jones Financial Companies Lllp now owns 4,212 shares of the company’s stock valued at $51,000 after acquiring an additional 2,059 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in Elanco Animal Health by 221.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 4,953 shares of the company’s stock valued at $60,000 after acquiring an additional 3,411 shares in the last quarter. Blue Trust Inc. boosted its stake in Elanco Animal Health by 47.7% in the fourth quarter. Blue Trust Inc. now owns 5,862 shares of the company’s stock valued at $71,000 after acquiring an additional 1,894 shares in the last quarter. Finally, Spire Wealth Management boosted its stake in Elanco Animal Health by 107.4% in the fourth quarter. Spire Wealth Management now owns 7,776 shares of the company’s stock valued at $94,000 after acquiring an additional 4,026 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Insider Activity at Elanco Animal Health

In related news, Director Lawrence Erik Kurzius bought 10,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was bought at an average cost of $10.20 per share, with a total value of $102,000.00. Following the completion of the acquisition, the director now owns 111,459 shares in the company, valued at approximately $1,136,881.80. This represents a 9.86 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is owned by insiders.

Elanco Animal Health Price Performance

Shares of NYSE:ELAN opened at $10.55 on Friday. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. The company has a market cap of $5.22 billion, a P/E ratio of 26.38, a PEG ratio of 2.50 and a beta of 1.44. Elanco Animal Health Incorporated has a 52 week low of $10.03 and a 52 week high of $18.80. The company has a 50-day moving average price of $11.36 and a 200 day moving average price of $12.61.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. Elanco Animal Health’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 EPS. Research analysts predict that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ELAN shares. Morgan Stanley decreased their price objective on shares of Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Stifel Nicolaus decreased their price objective on shares of Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Piper Sandler decreased their target price on shares of Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. UBS Group decreased their target price on shares of Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Barclays decreased their target price on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.17.

Elanco Animal Health Profile

Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures, and markets products for pets and farm animals. It offers pet health disease prevention products, such as parasiticide and vaccine products that protect pets from worms, fleas, and ticks under the Seresto, Advantage, Advantix, and Advocate brands; pet health therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications in canines and felines under the Galliprant and Claro brands; vaccines, antibiotics, parasiticides, and other products for use in poultry and aquaculture production, as well as nutritional health products, including enzymes, probiotics, and prebiotics; and a range of vaccines, antibiotics, implants, parasiticides, and other products used in ruminant and swine production under the Rumensin and Baytril brands.